News: India Inc to offer 10.3% raise to employees this fiscal

Compensation & Benefits

India Inc to offer 10.3% raise to employees this fiscal

Indian companies are likely to shell out an average salary increment of 10.3 per cent in the current fiscal with employees in pharma, health care and life sciences projected to get 12.4 per cent raise, says a survey. The overall average increment is 0.3 per cent points lower than the previous fiscal (10.6 per cent), because of slow economic growth and lower attrition. The findings are part of a survey conducted by Deloitte India, Human Capital Consulting. Given the overall mood of the economy, the retail sector will maintain a conservative estimate and is likely to offer the lowest average increment at 9.1 per cent, the survey said. Meanwhile, as per the survey findings the average voluntary attrition rate across sectors in the 2013-14 fiscal had been 13.4 per cent, 0.8 per cent points lower than the previous fiscal 2012-13.

Indian companies are likely to shell out an average salary increment of 10.3 per cent in the current fiscal with employees in pharma, health care and life sciences projected to get 12.4 per cent raise, says a survey. The overall average increment is 0.3 per cent points lower than the previous fiscal (10.6 per cent), because of slow economic growth and lower attrition. The findings are part of a survey conducted by Deloitte India, Human Capital Consulting. Given the overall mood of the economy, the retail sector will maintain a conservative estimate and is likely to offer the lowest average increment at 9.1 per cent, the survey said. Meanwhile, as per the survey findings the average voluntary attrition rate across sectors in the 2013-14 fiscal had been 13.4 per cent, 0.8 per cent points lower than the previous fiscal 2012-13.

Read the Economic Times news report here.

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Topics: Compensation & Benefits, #Trends, #National, #TotalRewards

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